Gogo Inc (GOGO)
Payables turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 90,935 | 87,020 | 88,630 | 89,905 | 88,092 | 89,460 | 89,698 | 85,196 | 81,197 | 154,033 | 180,113 | 198,936 | 281,020 | 224,240 | 216,316 | 228,119 | 175,537 | 184,152 | 193,630 | 193,554 |
| Payables | US$ in thousands | 16,094 | 15,328 | 17,346 | 14,487 | 13,646 | 18,413 | 20,662 | 18,119 | 17,203 | 13,974 | 14,725 | 11,322 | 11,013 | 6,060 | 41,412 | 35,995 | 5,495 | 25,521 | 29,617 | 27,861 |
| Payables turnover | 5.65 | 5.68 | 5.11 | 6.21 | 6.46 | 4.86 | 4.34 | 4.70 | 4.72 | 11.02 | 12.23 | 17.57 | 25.52 | 37.00 | 5.22 | 6.34 | 31.94 | 7.22 | 6.54 | 6.95 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $90,935K ÷ $16,094K
= 5.65
Gogo Inc's payables turnover has shown fluctuations over the past eight quarters, indicating variations in the efficiency of managing its accounts payable. The payables turnover decreased from 9.96 in Q4 2022 to 5.58 in Q3 2022, suggesting a potential delay in paying off its obligations during that period. However, the ratio improved significantly in subsequent quarters, reaching 8.97 in Q3 2023. This increase demonstrates an enhanced ability to convert payables into cash or reduce outstanding obligations promptly. Overall, the payables turnover has generally been above 5, indicating that Gogo Inc effectively manages its accounts payable and maintains a healthy relationship with its suppliers.
Peer comparison
Dec 31, 2023